The stock market is mostly based on the greater fool theory. You can’t really escape that. Most VCs doing 99 investments for the 1 big are akin to YC. They’re

The stock market is mostly based on the greater fool theory. You can’t really escape that. Most VCs doing 99 investments for the 1 big are akin to YC. They’re not doing series C for $100m and expecting 99 of those to fail. They’re expecting to get a return somewhat shortly back. Holding the stock isn’t helpful for a VC unless they’re going to be using some financial mechanism for leverage - which means they’ve given it up for the other institution who now essentially owns it. A lot of these stocks aren’t giving you meaningful dividends. You have to sell or give up some form of control on them to be a successful VC. How else would you continue to invest?